ING Bank launches 12 new FX indices

Bloomberg has created a basket of 12 emerging market currency indices that are tracked against the US dollar for ING Bank.

The Bloomberg ING Global Emerging Markets FX Indices will provide investors with 12 emerging market currencies that can be traded long or short.

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Currencies included in the indices are the Brazilian real, the Indian rupee, the Korean won, the Russian ruble and the Mexican peso.

ING head of FX rates and credit trading Guy Thomas said: "We are pleased to offer the Bloomberg ING Global Emerging Markets FX Indices to our clients as it allows them to take exposure to the emerging markets currency asset class in a cost-effective, efficient and transparent way."

Bloomberg head of custom strategies Ji Zhuang said: "We are delighted to support ING UK in launching these emerging markets FX indices."

Mr Zhuang added: "As regulations evolve and investors increasingly demand more benchmark transparency, we are helping firms across the globe turn their investment strategies into indices and offering outsourcing of in-house index calculation and administration to our managed platform."